Method again in 2018, as an rising variety of authorized expertise corporations have been launching litigation analytics merchandise, I wrote concerning the pattern in a put up on Above the Law, the place I posited that it might sometime be malpractice for a lawyer not to make use of analytics.
Now, a survey out today from Lex Machina, one of many unique authorized analytics corporations, concludes that utilizing analytics have develop into “desk stakes” for litigation.
The survey finds that seven out of 10 authorized professionals use authorized analytics of their day-to-day work, and that 79% imagine that the usage of authorized analytics is required by or anticipated by their shoppers.
“The survey outcomes present that authorized analytics is a vital, obligatory part of efficient litigation observe and enterprise improvement,” mentioned Karl Harris, CEO of Lex Machina, which is owned by LexisNexis. “It’s closely anticipated by shoppers, and it has demonstrated nice worth to customers in each litigation and enterprise technique. It’s no shock that two-thirds of respondents indicated they wish to combine authorized analytics instantly into their workflow.”
The survey of 400 authorized professionals, which included each Lex Machina prospects and non-customers, discovered:
- Utilization is widespread, with almost seven out of 10 authorized professionals utilizing analytics each day.
- Customers discover worth, with 99% of customers saying they discover authorized analytics to be beneficial.
- Non-users understand worth, with 85% of those that don’t repeatedly use analytics saying they imagine they’re beneficial.
- Follow is enhanced, with 66% of customers believing that analytics makes them higher and extra knowledgeable legal professionals.
- Shoppers expect it, with 79% of customers reporting that their shoppers require or considerably count on authorized analytics.
- There may be demand for APIs, with 67% of customers desirous to combine authorized analytics with different knowledge inside their organizations.
Regulation corporations are utilizing litigation analytics in two major areas, in accordance with the survey: within the observe of regulation and in enterprise improvement and advertising and marketing.
On the regulation observe facet, the commonest use (79%) is for analyzing litigation knowledge to achieve aggressive insights on judges, events and opposing counsel.
Litigators are additionally utilizing it for case evaluation (66%), case technique (63%), predicting outcomes (48%), and bettering briefs or arguments (45%).
On the enterprise facet, 75% of respondents mentioned they use analytics when pitching or demonstrating experience to shoppers. In addition they use analytics for aggressive intelligence and to cost bids and providers.